Los Angeles Capital Management LLC Has $56.42 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Los Angeles Capital Management LLC decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,290 shares of the industrial products company’s stock after selling 17,023 shares during the quarter. Los Angeles Capital Management LLC owned 0.07% of Parker-Hannifin worth $56,415,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PH. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $25,000. West Branch Capital LLC bought a new stake in Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Fortitude Family Office LLC lifted its position in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $7.42 during midday trading on Friday, reaching $695.58. The company’s stock had a trading volume of 565,643 shares, compared to its average volume of 647,506. Parker-Hannifin Co. has a 52 week low of $410.86 and a 52 week high of $709.63. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $623.97 and a 200-day moving average price of $569.83. The stock has a market cap of $89.54 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.86 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.96 earnings per share. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.79 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,678 shares of company stock worth $13,840,428 over the last ninety days. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird increased their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, KeyCorp raised their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $673.14.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.